May 22, 2003
The Honorable Michael E. Busch
Speaker of the House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, today I have vetoed House Bill 331 - Credit Regulation - Credit Grantor Revolving Credit Provisions - Amendment of Plan Agreement.
This bill repeals a requirement that a credit grantor give a specified notice to a borrower when the credit grantor amends an agreement governing a revolving credit plan if the amendment has the effect of altering the manner of computing specified fees and charges; repeals requirement that the credit grantor send a second notice of a specified amendment of a plan agreement to the borrower; and repeals a requirement that the Commissioner of Financial Regulation approve the form of a specified notice.
Senate Bill 179, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 331.
Robert L. Ehrlich, Jr.